Tata Steel - Long Trade - Kursi Ki Peti Baand Lijiye

Sep 7, 2023

TATASTEEL on weekly charts has a commanding positional advantage. Since commodities are news and dollar driven, some little knee jerk reactions can emerge during the journey, and perhaps by the end of September or early October, TATASTEEL can become a brilliant trade to play with. The positional view is also displayed on the chart, but it will need patience to maintain your current positions.

Pattern Formed - Flagpole & Bullish Pennant
Positional SL - Low point of the pennant pattern
Immediate SL for long trade - Top of the pennant breakout line or say 115 on WCB

Conclusion - Breakout of the pattern and retest done. Should resume upwards journey

Let's see how the story develops. Best wishes!

Disclaimer -

- My thoughts are shared here. This is both for my own records and for keeping track of what I see on charts.
- If you are referring to this, please keep in mind that it is only for educational and research purposes.
- Past performance is no guarantee of future results.
- You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION.
- It's your hard-earned cash. Trade / Invest wisely, keeping in mind your trading style, goals and objectives, time horizon, and risk tolerance.
- Before investing, conduct your own research and consult with a financial advisor.

TIA!